It’s very common for investors to later refinance multiple properties into a single portfolio loan once cash flow is stabilized and the portfolio has a track record.A true portfolio loan can absolutely include properties that aren’t adjacent — even across different states — but lenders usually look for:Strong, stabilized cash flow across the entire portfolioCross-collateralization (the properties secure each other)Consistent DSCR and operating historyFewer, higher-quality assets versus a large scattered poolSome banks and private portfolio lenders will do this, but it’s more relationship-driven and less cookie-cutter than one-loan-per-property.The tradeoff I usually explain to investors:Portfolio loan: one payment, flexibility, cleaner balance sheet — but cross-default riskIndividual loans: more admin, but easier to sell or refinance properties one at a timeMost experienced investors I work with use individual loans early on and consolidate later when scale and stability justify it.Happy to answer questions from the lending side if helpful.

I also explained to them multiple times, I save money by being both the contractor and investor on my projects.

Most lenders I've spoken to say they lend to foreign nationals with no credit scores, but when I explain that I do have a credit score and my American partner even has a very good credit score, they don't seem to want to think outside the box a little to see if there's a possibility for better terms.. 

Hire an attorney to explain the process to you.

What surprised me wasn’t the rankings themselves, but how often the exercise surfaced where my gut feeling disagreed with the data — and forced me to explain why.At least for me, that’s been more valuable than chasing a single “top market” list.I’m curious how others here think about this:Do you start with a preferred strategy and narrow markets from there?

Like "avoid realtor fees and showings" before explaining terms.

If they could not do that, or clearly lacked the financial literacy to understand the deal even after it was explained, the conversation ended.

I would have a professional conversation with them explaining that point and reminding them of the lease terms.

That might explain some of the softness in SFR rent growth, too.Looking ahead, I’m keeping a close eye on Q1.

I'm in the Texas market and I really never went back to some HML who were not patient with me when I first started... even after I explained it was my first rodeo.If you can find a group that is willing to give you feedback on how they will underwrite in your market, then you've found a solid win-win I think.